Lufthansa has cancelled around 20,000 flights between May and October, cutting unprofitable routes and reducing its schedule to cope with surging jet fuel prices that have doubled following the Iran conflict and disruption in the Strait of Hormuz, reports the Financial Times. The move is part of a wider industry response, as airlines globally reduce capacity or raise fares amid rising fuel costs.
European regulators are also considering emergency measures to prevent fuel shortages, including alternative supply sourcing and relaxed airline operating rules, as inventories fall to critically low levels.
